Mastersystem Infotama Tbk. (MSTI) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Mastersystem Infotama Tbk. IDR 4,444, price IDR 1,320, upside +236.7%, quality 64 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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PT Mastersystem Infotama Tbk engages in the provision of information and communication technology infrastructure solutions and system integration services to enterprise banking, oil and gas, enterprise, and telecommunication markets in Indonesia.
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PT Mastersystem Infotama Tbk engages in the provision of information and communication technology infrastructure solutions and system integration services to enterprise banking, oil and gas, enterprise, and telecommunication markets in Indonesia. The company offers data center and cloud infrastructure, digital business management, enterprise collaboration, adaptive security architecture, data and AI, telco network solutions, as well as Cloud solutions. It also provides services, including Implementation Service, such as general, migration, and relocation services; maintenance; and managed services. In addition, it offers MS-Insight, an app providing real-time visibility, automation and remediation; MSXperience, a web-based application that provides video portal, webcast, dashboard usage, and analytic report; MS-CDX, a customer experience-oriented dashboard; Mastersystem Sustainability Optimization (MSSO) application; Mastersystem Secure Sphere (MS3), a blackbox security testing solution; AmanTerus, an innovative app designed to protect devices from various threats; and MANTRA AI, a smart digital assistant solution. The company was founded in 1994 and is headquartered in Jakarta Pusat, Indonesia.
Stock analysis
Mastersystem Infotama Tbk. (MSTI) currently trades at 1,320 IDR, while our model-based Fair Value estimate is 4,444 IDR, implying the stock looks roughly 70.3% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 4,181 IDR per share, and 24 of the 26 models we run sit above the 1,320 IDR price.
Bear case: the Asset-Based group reads lowest at 489.03 IDR, and 2 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: 2,927 IDR (bear) to 5,784 IDR (bull), the price of 1,320 IDR sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 64/100 (solid quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Mastersystem Infotama Tbk. reported revenue of 5.5T IDR in FY2025 versus 3.1T IDR in FY2021, a compound +15.0%/yr. Reported net income was 549B IDR in FY2025, compounding +13.8%/yr from FY2021.
Key figures
Market cap 4.1T IDR (≈ $232M) · P/E ratio 7.4 · P/S ratio 0.75 · EPS (TTM) 177.69 IDR · Dividend yield 8.0% · Net margin 10.1% · Return on equity 26.8% · Return on assets (EBIT) 20.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 9% below its 52-week high and 14% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at 44% fair-value upside, at 237%, MSTI screens cheaper than that median.
Fair Value models
Bear 2,927 IDRFair Value 4,444 IDRBull 5,784 IDR
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (54.21 IDR per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.99/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+1.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.5%
Start year 2020 (pandemic)
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years), in IDR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in IDR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+21.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+13.3%
Dividend (yield on the price)8.0%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.13% → 12%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−13.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Indonesia: IMF forecast 2.6% a year to 2030, 2.9% from 2016 to 2025) that is about −16.0% a year for the price.
Compare Mastersystem Infotama Tbk. with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Information Technology Services · 458 stocks
Beats the industry median on 14/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score64 · Above median
Fair Value upside+200.0% · Top 25%
Profitability
Return on equity (TTM)26.8% · Top 25%
Return on assets14.1% · Top 25%
Net margin (TTM)10.2% · Top 25%
Operating margin (TTM)10.6% · Above median
Growth and dividend
Revenue growth14.4% · Above median
Dividend yield (TTM)8.0% · Top 25%
Balance sheet
Debt / equity0.00× · Below median
Valuation Multiplesvs Information Technology Services median · lower = cheaper
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Is Mastersystem Infotama Tbk. (MSTI) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 4,444 IDR versus a price of 1,320 IDR, about +237% upside (undervalued).
What is the fair value of MSTI?
Our model-based fair value for Mastersystem Infotama Tbk. is 4,444 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 1,320 IDR.
What is the quality score of MSTI?
Mastersystem Infotama Tbk. has a Quality Score of 64/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Mastersystem Infotama Tbk. (MSTI)?
Our model-based price target is the fair value of 4,444 IDR (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 2,927 IDR, optimistic scenario 5,784 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Mastersystem Infotama Tbk. stock forecast for 2026?
Our models put fair value at 4,444 IDR, about +237% upside versus a price of 1,320 IDR (undervalued). Cautious scenario 2,927 IDR, optimistic scenario 5,784 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Mastersystem Infotama Tbk. (MSTI)?
Mastersystem Infotama Tbk. reported trailing-twelve-month revenue of about 5.5T IDR (latest available figure, as of Sep 24, 2026).
Does Mastersystem Infotama Tbk. pay a dividend?
Mastersystem Infotama Tbk. currently shows a dividend yield of about 8.03% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Mastersystem Infotama Tbk. (MSTI)?
For today's price to be fair in a discounted-cash-flow model, Mastersystem Infotama Tbk. would have to grow free cash flow by -13.8 % per year for five years (discount rate 15.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.5 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of MSTI use?
Our models discount Mastersystem Infotama Tbk. at 15.0 %: a base by market capitalisation (micro), country premium for Indonesia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Mastersystem Infotama Tbk. that is -13.8 % per year a year over ten years, using the same discount rate (15.0 %) and the same formula as our fair value.
How much growth has Mastersystem Infotama Tbk. (MSTI) delivered so far?
Over the past 5 years revenue at Mastersystem Infotama Tbk. grew +13.5 % a year. The price currently implies -13.8 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Mastersystem Infotama Tbk. (MSTI) growing?
The median revenue growth in the sector is +13.4 % a year. That is the yardstick for the growth priced into Mastersystem Infotama Tbk. (-13.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Mastersystem Infotama Tbk. (MSTI)?
The free-cash-flow yield on the price is 16.60 %: that much free cash flow Mastersystem Infotama Tbk. produces per unit of market value. When it exceeds the discount rate of our models (15.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Mastersystem Infotama Tbk. (MSTI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Mastersystem Infotama Tbk. it is 4,444 IDR per share (as of Sep 24, 2026), against a price of 1,320 IDR. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Mastersystem Infotama Tbk. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, MSTI trades below its calculated fair value: price 1,320 IDR, fair value 4,444 IDR, a gap of about +237% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of MSTI?
No. The price is what the market pays today (1,320 IDR); the fair value is what the company's own numbers justify (4,444 IDR). For Mastersystem Infotama Tbk. the two are 3,124 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Mastersystem Infotama Tbk. worth?
The market values Mastersystem Infotama Tbk. at about 4.1T IDR (market capitalisation, as of Sep 24, 2026). Per share that is 1,320 IDR; our models calculate a fair value of 4,444 IDR per share.
What do the bullish and bearish scenarios say about MSTI?
Our models span a range for Mastersystem Infotama Tbk.: cautious scenario 2,927 IDR, base 4,444 IDR, optimistic 5,784 IDR per share (as of Sep 24, 2026, price 1,320 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MSTI?
Mastersystem Infotama Tbk. trades at a price-to-earnings ratio of 7.4 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 4,444 IDR is built from several models across several years. Other multiples: P/B 1.8, P/S 0.8, EV/EBITDA 3.4.
How solid is the balance sheet of Mastersystem Infotama Tbk. (MSTI)?
Balance-sheet figures for Mastersystem Infotama Tbk. (as of Sep 24, 2026): return on equity 26.8%, debt of 0.00 per unit of equity. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is MSTI from its 52-week high?
Mastersystem Infotama Tbk. trades at 1,320 IDR, about 9% below its 52-week high of 1,452 IDR and 14% above the low of 1,155 IDR (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 4,444 IDR is for.
Which stocks are comparable to Mastersystem Infotama Tbk.?
From the same area (Technology) we also value International Business Machines Corporation, Accenture plc, Tata Consultancy Services Limited, Infosys Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Mastersystem Infotama Tbk. stock attractive at the current price?
The data as of Sep 24, 2026: price 1,320 IDR, calculated fair value 4,444 IDR (+237%), Quality Score 64/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of MSTI calculated?
We run Mastersystem Infotama Tbk. through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 4,444 IDR, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Mastersystem Infotama Tbk. currently trades 70 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Mastersystem Infotama Tbk. (MSTI)?
The closing price on Oct 2, 2026 was 1,320 IDR. Our model-based fair value is 4,444 IDR, about +237% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Mastersystem Infotama Tbk. right now?
The price is below even our cautious bear case (2,927 IDR). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (2,927 IDR to 5,784 IDR) leaves room in how you read the outcome.
Key figures of Mastersystem Infotama Tbk.
How large is the market capitalisation of Mastersystem Infotama Tbk. (MSTI)?
The market capitalisation of Mastersystem Infotama Tbk. is 4.1T IDR (≈ $232M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Mastersystem Infotama Tbk. (MSTI)?
The price-to-sales ratio of Mastersystem Infotama Tbk. is 0.75 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Mastersystem Infotama Tbk. (MSTI)?
Earnings per share at Mastersystem Infotama Tbk. are 177.69 IDR (price ÷ EPS = P/E 7.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Mastersystem Infotama Tbk. (MSTI)?
The dividend yield of Mastersystem Infotama Tbk. is 8.0% (payout 59.7%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Mastersystem Infotama Tbk. (MSTI)?
The net margin of Mastersystem Infotama Tbk. is 10.1% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Mastersystem Infotama Tbk. (MSTI)?
The return on equity (ROE) of Mastersystem Infotama Tbk. is 26.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Mastersystem Infotama Tbk. (MSTI)?
On an EBIT basis the return on assets of Mastersystem Infotama Tbk. is 20.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Mastersystem Infotama Tbk. (MSTI)?
The operating margin of Mastersystem Infotama Tbk. is 10.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Mastersystem Infotama Tbk. (MSTI)?
Revenue at Mastersystem Infotama Tbk. is growing +14.4% versus a year earlier (3y avg +15.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Mastersystem Infotama Tbk. (MSTI)?
Earnings per share at Mastersystem Infotama Tbk. are growing +21.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Mastersystem Infotama Tbk. (MSTI) hold?
Mastersystem Infotama Tbk. holds more cash than debt, 1.5T IDR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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